Platts to launch Brunei's Champion crude, Australia's Wheatstone condensate assessments Aug. 3

Platts, part of S&P Global Energy, will launch daily assessments of Brunei's Champion crude and Australia's Wheatstone condensate on an FOB basis, effective Aug. 3, 2026.

This follows Platts' observation of an increase in spot cargo activity for Champion crude and a consistent flow of spot cargo activity for Wheatstone in recent years.

Champion crude is produced from the Champion oil field in Brunei. It has an API gravity of 28.83 and a sulfur content of 0.11%. The Champion crude assessments will reflect cargo sizes of 300,000 barrels for loading on an FOB basis from Seria Crude Oil Terminal.

Wheatstone condensate is produced from the Wheatstone, Lago, Julimar and Brunello gas fields in Western Australia. It has an API gravity of 63.2 degrees and a sulfur content of less than 0.05%. Wheatstone condensate assessments will reflect cargo sizes of 650,000 barrels for loading on FOB basis from Wheatstone Marine Terminal.

The assessments will reflect loading over the full calendar month two months forward from the month of publication, in line with the typical crude oil trading cycle in the Asia Pacific region and existing assessments of crude oil grades in this region. Trades and price indications for other cargo sizes and loading month may be normalized to the standards these assessments reflect.

For each grade, Platts will publish an outright price assessment and the cash differential to Platts Dated Brent for the month of loading, time-stamped to the 4:30 pm (0830 GMT) Asia close, in line with the Singapore publishing schedule. In addition, Platts will publish outright price assessments for each grade at the 4:30 pm London close, reflecting movement in the underlying Dated Brent benchmark from the Asia close to the London close. The assessments at the London close will not be published on London or Singapore public holidays.

For example, in August, Platts will assess outright prices and cash differentials against the October Asia Dated Brent (ADB) Strip for cargoes loading in October. The assessments and their underlying pricing month basis will roll over on the first working day of the month.

Platts first proposed launching the new assessments in a subscriber note published May 22, 2026.

Please send all feedback, comments or questions to Asia_Crude@spglobal.com and pricegroup@spglobal.com.

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